Viel & Cie: Revenue Up 6.5% and Record Net Income in H1 2026
VIEL & Cie published its first half 2026 financial statements on September 4, 2026, marked by growth across all earnings aggregates.
The gap between growth at current exchange rates and at constant exchange rates remains the main reading element: revenue increased by 6.5% in published data, but by 11.5% once the currency effect is neutralized.
Revenue of €696 Million and Net Income of €106.8 Million
Consolidated revenue stands at €696.0 million in the first half of 2026, compared to €653.5 million a year earlier, representing an increase of 6.5% at current exchange rates. At constant exchange rates, it amounts to €728.8 million, up 11.5%.
Operating income, including associates, reached €133.8 million compared to €124.8 million in the first half of 2025, an increase of 7.2% (12.4% at constant rates). Net income for the period stands at €106.8 million, up 11.6%, compared to €95.6 million in the same period in 2025.
Net income attributable to the group stands at €77.3 million, up 11.8% at current exchange rates and 17.2% at constant exchange rates.
Associates and Financial Result Support Growth
The share of results from associates and joint ventures increased by 28.6% at constant rates, standing at €25.3 million. The group attributes this growth primarily to its activities in the Retail sector in Japan.
Financial income recorded a net loss of €0.4 million in the first half of 2026, compared to a net loss of €2.2 million a year earlier. According to the group, this change is explained by a reduction in exchange losses related to currency fluctuations.
Within the divisions, Compagnie Financière Tradition recorded revenue growth of 10.4% at constant exchange rates, including joint ventures, at CHF 646.2 million, with net income attributable to the group of CHF 79.1 million (+22.5% at constant rates). Bourse Direct shows an increase of 16.7% in the number of executed orders and growth of 23.0% in operating income, at €15.9 million. SwissLife Banque Privée displays stable net banking income and a slight decline in results.
Equity of €788.8 Million and Net Cash Position Preserved
The half-year result brings consolidated equity to €788.8 million at June 30, 2026, of which €613.7 million is attributable to the group.
This amount is stated after deduction of the gross value of treasury shares held by VIEL & Cie, at a cost of €24.0 million, corresponding to a market value of approximately €72.0 million at the June 30, 2026 closing price. The group states that it has maintained a net cash position and reduced the level of its intangible assets.
Regarding outlook, Compagnie Financière Tradition intends to pursue primarily organic growth and increase its investments in brokerage digitalization, hybrid solutions, and data and analytics activities. Bourse Direct, which has more than 425,000 accounts, continues to diversify its services, products, and offerings.
